Natural disasters: blessings in disguise?
Paper
Paper/Presentation Title | Natural disasters: blessings in disguise? |
---|---|
Presentation Type | Paper |
Authors | Koerniadi, Hardjo (Author), Krishnamurti, Chandrasekhar (Author) and Tourani-Rad, Alireza (Author) |
Editors | Chervonsky, Liza |
Journal or Proceedings Title | Proceedings of the 24th Australasian Finance and Banking Conference (AFBC 2011) |
ERA Conference ID | 50275 |
Number of Pages | 21 |
Year | 2011 |
Place of Publication | Sydney, Australia |
ISBN | 9780987312730 |
Digital Object Identifier (DOI) | https://doi.org/10.2139/ssrn.1913664 |
Conference/Event | 24th Australasian Finance and Banking Conference: Never Stand Still (AFBC 2011) |
Australasian Finance & Banking Conference | |
Event Details | 24th Australasian Finance and Banking Conference: Never Stand Still (AFBC 2011) Event Date 14 to end of 16 Dec 2011 Event Location Sydney, Australia |
Event Details | Australasian Finance & Banking Conference AFBC |
Abstract | This study examines the impact of natural disasters on market returns and on several industries that are likely to be affected by the disasters. We find that different natural disasters have different impacts on the returns of the market and on those of industries. Our evidence suggests that while earthquake, hurricane and tornado could negatively affect market returns several weeks after the events, other disasters such as flood, tsunami and volcanic eruption may have limited impact on market returns. We also find that construction and materials industry is positively affected by natural disasters but nonlife and travel industries are likely to suffer when a natural disaster strikes. |
Keywords | natural disasters; market returns; industry returns; cumulative abnormal returns |
ANZSRC Field of Research 2020 | 350208. Investment and risk management |
370903. Natural hazards | |
380304. Microeconomic theory | |
Public Notes | No evidence of copyright restrictions. |
Byline Affiliations | Auckland University of Technology, New Zealand |
School of Accounting, Economics and Finance | |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q1527/natural-disasters-blessings-in-disguise
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